I've searched and lurked and read a lot of posts on the CSP / BCE.
I'm going on an app spree here shortly to rebuild then I'll be heading to the garden!
I have offers in the mail for Freedom, Slate, Amex ED... and on Cap1's website for the QS and Venture. I bring these up because I'm aware of the Chase 5/24 rule and am thinking.. hmmm... My idea was to app like this: Freedom, Amex ED, Venture, then finally the QS. Cap1 gave me a chance and graced me with a QS1 with a SL of $500.00 09/2015. I got my first CLI for $1000.00 this Feb (didn't realize I could of hit the LUV button sooner). Right now I'm sitting at 9% util.
I have a closed/paid Acura Financial auto loan with my latest 30 day late as of March 2013. I had several 30 day lates, I won't deny it. But the 11 lates they state I have aren't adding up and it's a work in progress to find out what's going on with that. They also have me for 1 - 60 day late which I'm confident didn't happen and I'm waiting for a callback from Acura to try and get all of that settled before opening a dispute. (Especially since none of the info matches across the 3 CRA's).
My first question is, what do you all think my chances are for the CSP? Shall I just app for the Freedom and build some history, or go for both? I figure if going for both I can still go for the Amex, Venture and QS afterwards. If I don't however, the 05/24 is going to apply and I'll just need to wait a couple of years. 
(The pre-qual offers I've recieved are for the Freedom and the Slate.. The Chase pre-qual website is showing the same 2)
And finally, I have an offer as stated above for the Amex ED. It's for 22.99%. The website which is weird is not giving me any pre-qual offers from what I can see. I'm kinda torn now when I look at the BCE. Since I have the mail offer I figure I should stick to the ED but what do you all think? I have no history with Amex.
0 Collections / No Public Records
EQ: 723 // EX: 703 // TU: 716 - Pulled from the MyFico site, so it is 8.
AAoA: EQ: 7.8YRs - EX: 4.8YRS - TU: 4.8YRS | HPs: 2 EQ - 1 TU - 3 EX | UTIL: 9%
Same info as in my siggy. I realize that it's all YMMV and pre-quals don't mean approvals. I can sure hope though!! 
It is hard to say. Chase likes to see 6-12 months revolving history in general and experience with 5K limits first for CSP. What is the APR on Freedom from the pre-approval offer? This will give you an idea of their internal score 
What I would do in your case is apply for Freedom and if instantly approved just shoot an app for CSP. (That if you are the gambler type like me and desperate to have CSP) Like this it should be the same pull if denied. My estimate if Cap1 from Nov15 is your only card the chances of a CSP approval is not to good but we have still seen approvals. Do you by any chance bank with Chase? With the thin file you have I would not do more than 2-3 apps and wait with the others for 6-12 months. Decide which cards are most beneficial to you and select 2-3 now and wait with the others. IMO CSP chances are not too good but if you want to try after the Freedom app...why not .. you 've got nothing to lose if the same pull is used. Don't add more than 3 new accounts now and wait with the others. I have done once a spree of 4 cards and got an APR of 22.99% with Chase and this remains now for the life of the account. (Freedom) I then decided my original plan to add an account every 6 months works a whole lot better for me. But many love the sprees. On a thin file with only 1 revolving card I would not recommend to add that many new accounts.
@lg8302ch wrote:It is hard to say. Chase likes to see 6-12 months revolving history in general and experience with 5K limits first for CSP. What is the APR on Freedom from the pre-approval offer? This will give you an idea of their internal score
Freedom, 0% Intro for 15 months, 5% cash back in bonus cats, no annual, $150 bonus after you spend $500 on purchases in the first 3 months from account opening... turns into a variable 18.99apr.. that's from the mail offer. The website is showing 23.24apr. I do bank with chase, just a checking/savings account.
I had an old CC that was from a CU back in 2002. It's been closed since 2008, had only $1000 on it. In 2008 I paid and closed it. It was only reporting to EQ. Never any late payments or anything. So beyond that is the car loan that's paid/closed where I was the co-signer with my father.
I figured because of my AAoA that I really didn't have a thin file,... but I still have a lot to learn. I didn't think about that so I thank you, I'm probably being a little impatient lol. I was thinking because of the HP's I culd get them out of the way too and let them age.
Yes they will see the inquiries as they get added instantly. Of course they will see the inquiries only of the CRA they pull. They do not see the new accounts yet. Amex usually pulls EX, Chase mostly too and for me it is constantly a double pull EX/EQ and Cap1 will be pulling all 3. Since Cap1 is the least sensitive to new accounts and inquiries you should do their apps last. I would probably go in this sequence Freedom, then immediately CSP to see what happens since it should be with the same pull if you are lucky, then Amex and last Cap1. I mentioned the thin file because I understood that you do not have any other revolving account than the new one from a few months ago. The AAoA is good. What could help is that you are banking with Chase. I mean if you accept the offer from Chase for Freedom I would just try for CSP...who knows and you might end with a nice surprise but if it does not work then simply try in 6-12 months...the card will still be there. If you proceed with your apps please post the outcome as I am very curious how this ends If you get accepted for CSP then I would hold off on the Cap1 cards. I would not add more than 3 cards at the maximum if you only have 1 card but that is just me and I prefer to app a bit more conservative but have so far never received a denial like this.
@lg8302ch wrote:Yes they will see the inquiries as they get added instantly. Of course they will see the inquiries only of the CRA they pull. They do not see the new accounts yet. Amex usually pulls EX, Chase mostly too and for me it is constantly a double pull EX/EQ and Cap1 will be pulling all 3. Since Cap1 is the least sensitive to new accounts and inquiries you should do their apps last. I would probably go in this sequence Freedom, then immediately CSP to see what happens since it should be with the same pull if you are lucky, then Amex and last Cap1. I mentioned the thin file because I understood that you do not have any other revolving account than the new one from a few months ago. The AAoA is good. What could help is that you are banking with Chase. I mean if you accept the offer from Chase for Freedom I would just try for CSP...who knows and you might end with a nice surprise but if it does not work then simply try in 6-12 months...the card will still be there. If you proceed with your apps please post the outcome as I am very curious how this ends
Everything makes perfect sense! You had mentioned the thin file and I hadn't thought about that. I'm certainly worried about the lates I have but at least the last one is almost at the 3 year mark. Acura is being stingy so far so I'm hoping to get the information all settled out, especially since I'm pretty confident I never had a 60 day. It'll take a bit but I know it'll all get sorted.
I'm hoping my Freedom app goes well, if it does I will definitely be trying for the CSP and hoping that it's only the 1 HP for both apps. If the CSP doesn't get accepted, it's not the end of the world. Next I'll go for the Amex ED. I'm still a little confused as to why I got the one mailer but no prequals on the actual website.
If I do manage to get the Freedom, CSP and ED, I am thinking I will probably stop there. I can see why it would be beneficial to only pick up 3 more cards at this time... I can also see why it might be beneficial to apply for the Cap1 Venture and QS as well so I could stop and garden for quite a while. I'd like to do my apps later today, so this gives me some time to think it through if I should stop at 3. Heck I'll be jumping up and down if I manage to get even 2 of them.. if I'm still unsure I will wait another day or two to make sure I know what I'm doing first.
@Anonymous wrote:I've searched and lurked and read a lot of posts on the CSP / BCE.
I'm going on an app spree here shortly to rebuild then I'll be heading to the garden!
I have offers in the mail for Freedom, Slate, Amex ED... and on Cap1's website for the QS and Venture. I bring these up because I'm aware of the Chase 5/24 rule and am thinking.. hmmm... My idea was to app like this: Freedom, Amex ED, Venture, then finally the QS. Cap1 gave me a chance and graced me with a QS1 with a SL of $500.00 09/2015. I got my first CLI for $1000.00 this Feb (didn't realize I could of hit the LUV button sooner). Right now I'm sitting at 9% util.
I have a closed/paid Acura Financial auto loan with my latest 30 day late as of March 2013. I had several 30 day lates, I won't deny it. But the 11 lates they state I have aren't adding up and it's a work in progress to find out what's going on with that. They also have me for 1 - 60 day late which I'm confident didn't happen and I'm waiting for a callback from Acura to try and get all of that settled before opening a dispute. (Especially since none of the info matches across the 3 CRA's).
My first question is, what do you all think my chances are for the CSP? Shall I just app for the Freedom and build some history, or go for both? I figure if going for both I can still go for the Amex, Venture and QS afterwards. If I don't however, the 05/24 is going to apply and I'll just need to wait a couple of years.
And finally, I have an offer as stated above for the Amex ED. It's for 22.99%. The website which is weird is not giving me any pre-qual offers from what I can see. I'm kinda torn now when I look at the BCE. Since I have the mail offer I figure I should stick to the ED but what do you all think? I have no history with Amex.
0 Collections / No Public Records
EQ: 723 // EX: 703 // TU: 716 - Pulled from the MyFico site, so it is 8.
AAoA: EQ: 7.8YRs - EX: 4.8YRS - TU: 4.8YRS | HPs: 2 EQ - 1 TU - 3 EX | UTIL: 9%
Same info as in my siggy. I realize that it's all YMMV and pre-quals don't mean approvals. I can sure hope though!!
It depends on what your credit card needs are; some folks including me would prefer the Freedom to the CSP. But you should make your Chase app first, due to their 5/24 rule.
If you do get the Chase card you're looking for I don't see why you feel the need to spree and tank your score. I don't see why you shouldn't just add cards gradually.
